SIRRRTF002

Application

This unit describes the performance outcomes, skills and knowledge required to manage retail store financials by controlling costs, managing rosters and stock levels, and reviewing financial performance.

It applies to individuals working in frontline management roles in a diverse range of retail industry sectors and business contexts. They operate independently with some responsibility for others and decision making, and within established organisational policies and procedures.

Unit mapping information

No equivalent unit.

Licensing, legislative, regulatory or certification requirements

No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.

Foundation skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Unit sector or competency field

Retail—Retail Financials

Prerequisite, co-requisite or interdependent assessment of units

Not applicable

Assessment conditions

Skills must be demonstrated in a retail environment. This can be:

• an industry workplace
• a simulated industry environment

Assessment must ensure access to:

• relevant documentation:

  • store budgets

  • store financial reports

  • template store financial reporting documents

  • template store roster documents

  • current plain English guidelines issued by regulatory bodies covering:

    • minimum workplace entitlements provided by the National Employment Standards (NES)

    • industrial awards for retail employees

• organisational policies and procedures for:

  • rosters

  • labour spend allowance

  • schedule amendment procedures

  • shrinkage concerns

  • human resource policies and procedures relevant to staff work hours and leave entitlements

  • operational requirements of the business activity, department or event subject to rosters

  • wage budget for the business activity, department or event subject to rosters

Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.